The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALLIED HEALTHCARE PRODS INC COM 019222108 384 343,644 SH   SOLE   343,644 0 0
ALAMO GROUP INC COM 011311107 918 17,614 SH   SOLE   17,614 0 0
AMREP CORP NEW COM 032159105 213 49,032 SH   SOLE   49,032 0 0
BENEFICIAL BANCORP INC COM 08171T102 2,786 209,164 SH   SOLE   209,164 0 0
BRT RLTY TR SH BEN INT NEW 055645303 1,043 164,471 SH   SOLE   164,471 0 0
CENTRAL FD CDA LTD CL A 153501101 1,516 151,950 SH   SOLE   23,680 0 128,270
SEACOR HOLDINGS INC COM 811904101 9,067 172,499 SH   SOLE   36,275 0 136,224
CISCO SYS INC COM 17275R102 6,798 250,357 SH   SOLE   57,320 0 193,036
COMMERCE UN BANCSHARES INC COM 200828101 1,419 103,474 SH   SOLE   103,474 0 0
EAGLE BANCORP MONT INC COM 26942G100 1,387 112,250 SH   SOLE   112,250 0 0
MERIDIAN BANCORP INC MD COM 58958U103 1,533 108,700 SH   SOLE   108,700 0 0
ENTEGRA FINL CORP COM 29363J108 497 25,682 SH   SOLE   25,682 0 0
ENGLOBAL CORP COM 293306106 923 951,627 SH   SOLE   951,627 0 0
ESSA BANCORP INC COM 29667D104 1,636 119,600 SH   SOLE   119,600 0 0
FIRST NORTHWEST BANCORP COM 335834107 1,405 99,306 SH   SOLE   99,306 0 0
FRIEDMAN INDS INC COM 358435105 781 141,282 SH   SOLE   141,282 0 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 1,197 87,230 SH   SOLE   27,130 0 59,360
GRAHAM CORP COM 384556106 1,049 62,338 SH   SOLE   62,338 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 11,096 109,364 SH   SOLE   77,970 0 31,174
CORNING INC COM 219350105 6,827 373,447 SH   SOLE   98,445 0 275,002
GEORGETOWN BANCORP INC MD COM 372591107 682 36,068 SH   SOLE   36,068 0 0
HARDINGE INC COM 412324303 757 81,200 SH   SOLE   81,200 0 0
HOPFED BANCORP INC COM 439734104 1,787 148,888 SH   SOLE   148,888 0 0
HOME FED BANCORP INC LA NEW COM 43708L108 1,308 59,465 SH   SOLE   59,465 0 0
HELMERICH & PAYNE INC COM 423452101 5,493 102,585 SH   SOLE   27,603 0 73,182
HOMETRUST BANCSHARES INC COM 437872104 6,232 307,750 SH   SOLE   162,270 0 145,480
HURCO COMPANIES INC COM 447324104 1,259 47,412 SH   SOLE   47,412 0 0
INSTEEL INDUSTRIES INC COM 45774W108 2,879 137,631 SH   SOLE   137,631 0 0
IF BANCORP INC COM 44951J105 1,286 69,519 SH   SOLE   69,519 0 0
KEARNY FINL CORP MD COM 48716P108 4,046 319,350 SH   SOLE   319,350 0 0
DORIAN LPG LTD SHS USD Y2106R110 986 83,755 SH   SOLE   82,555 0 1,200
MALVERN BANCORP INC COM 561409103 1,720 97,926 SH   SOLE   97,926 0 0
3M CO COM 88579Y101 3,595 23,863 SH   SOLE   1,436 0 22,427
MICROSOFT CORP COM 594918104 8,219 148,152 SH   SOLE   32,090 0 116,061
MCEWEN MNG INC COM 58039P107 27 25,000 SH   SOLE   25,000 0 0
NUCOR CORP COM 670346105 862 21,400 SH   SOLE   21,400 0 0
NAUGATUCK VY FINL CORP MD COM 63906P107 1,081 98,678 SH   SOLE   98,678 0 0
OCEAN SHORE HLDG CO NEW COM 67501R103 2,973 173,363 SH   SOLE   173,363 0 0
PATHFINDER BANCORP INC MD COM 70319R109 794 61,550 SH   SOLE   61,550 0 0
PEPSICO INC COM 713448108 252 2,522 SH   SOLE   0 0 2,522
PEARSON PLC SPONSORED ADR 705015105 415 38,500 SH   SOLE   38,500 0 0
PROVIDENCE & WORCESTER RR CO COM 743737108 1,297 93,695 SH   SOLE   93,695 0 0
SOUND FINL BANCORP INC COM 83607A100 1,660 73,318 SH   SOLE   73,318 0 0
SI FINL GROUP INC MD COM 78425V104 2,038 149,273 SH   SOLE   149,273 0 0
SIGMA DESIGNS INC COM 826565103 404 64,000 SH   SOLE   64,000 0 0
SOUTHERN CO COM 842587107 288 6,151 SH   SOLE   0 0 4,951
SPARTAN MTRS INC COM 846819100 466 149,800 SH   SOLE   149,800 0 0
SUPERIOR INDS INTL INC COM 868168105 5,540 300,751 SH   SOLE   78,947 0 221,803
WILLBROS GROUP INC DEL COM 969203108 40 15,000 SH   SOLE   15,000 0 0
EXXON MOBIL CORP COM 30231G102 946 12,138 SH   SOLE   0 0 5,100